The contribution of parental involvement and investment to children's education has been a major topic in current educational reform around the world. The purpose of this study is to identify the parental involvement and investment factors which make the greatest contribution to children's self-esteem in Hong Kong. Data for this study was obtained from questionnaires collected from a sample of about 2100 middle grade students (Grades 6-9) and their parents, as well as parents of first grade students, from 18 schools. The study employed factor analysis and Hierarchical Linear Modeling. First, the different dimensions of parental involvement and investment manifest in Hong Kong were clarified. Secondly, the association between parental involvement and investment and family socioeconomic status was estimated. Finally, whether student self-esteem is related to different types of investment and involvement after controlling the background factors was examined. [Copyright of School Community Journal is the property of Academic Development Institute.Access via Directory of Open Access Journals: http://www.adi.org/journal/]