A study examined parents' satisfaction with their children's school performance and parents' value for their children's academic success as variables that may influence children's perceptions of academic success or failure. Parents' values (parents n=240) were assessed with a ten-item paired-comparison scale made up of five value items. Children's perceptions of their academic competence (children n=179) were measured with the seven-item Perceived Competence Scale, with the children's report card grades serving as indicators of actual academic performance. Results of analysis indicated that parents' satisfaction with their children's school performance was associated with children's perceptions of academic competence, independent of children's actual school performance. Parents who valued academic success had children who perceived themselves to be academically competent. However, this general positive association masked important differences between highly competent children and children who were doing poorly in school. Among children who were doing well in school, having parents who placed more importance on academic success was associated with somewhat lower perceptions of academic competence. Among the bottom third of the class, however, having parents who placed more importance on academic success was associated with somewhat higher perceptions of academic competence. In general, the data suggest that parents' attitudes toward their children's academic performance may directly, or indirectly, shape children's perceptions of their academic competence. (HTH)