Abstract: Objectives: This project examined the effect of attributional style and self-esteem on the risk of depression with a cross-sectional approach. It was hypothesized that individuals with low self-esteem and who attribute the causes of negative events to internal-stable-global factors are more likely to become depress when confronted with negative life events. The relationship between children's and parents' attributional style was also investigated. Methods: The attributional style, self-esteem, and depressive symptoms of the participants were assessed before the occurrence of a potentially stressful event. In the field study, 96 children in grades 3 to 5 were assessed before receiving unacceptable grades on report cards. In the lab study, 20 children in grade 4 to 6 were assessed before receiving unsatisfactory results on quasi-tests. Their depressive symptoms were assessed again after the event. Results: Depressive symptoms after the stressful event were predicted by the interaction of negative cognitions and stressors. Children with negative attributional style and low self-esteem expressed more distress after receiving unsatisfactory results than did children without such cognitions. However, no relationship was found between the parents' and children's attributional style. Discussion: The present findings suggest that the degree of importance of the negative life event may also be significant in predicting the depressive symptoms after a stressful event. Further studies should take this into consideration when investigating the relationship between attributional style, self-esteem, and depression.