Two studies on the values that mothers hold for their handicapped and nonhan dicapped preschoolers were conducted from the organismic-developmental perspective of transactions of persons in environments. Mothers of both groups showed similar general values in an interview, attaching greatest importance to values related to their children's interpersonal development and least impor tance to their children's physical development (Study 1). There were significant differences between mothers of handicapped children versus mothers of non handicapped youngsters when 3 specific values in each of 4 value areas (physi cal, intrapersonal, interpersonal and socio-cultural) were assessed for both the home and school contexts (Study 2). Mothers of handicapped preschoolers at tached greater value to their children's physical development than did mothers of nonhandicapped preschoolers. Both groups of mothers attached greater value to physical and socio-cultural development at home than at preschool, and to intrapersonal and interpersonal development at preschool than at home. Mothers of nonhandicapped preschoolers differentiated to a greater degree be tween home and school contexts in attaching importance to values than did mothers of handicapped preschoolers. The implications of these findings for value theory and for transactions between mothers and their children are dis cussed.