This paper explores the relationship between the size of small and medium-sized enterprises (SMEs) and the enactment of espoused values. In a departure from previous research of managerial values, a conceptual Maturity Model of Managerial Values (MM-MV) was used which articulates the extent to which values are integrated or enacted within organizations. This allowed for a rigorous examination of how organizational size was related to the degree of values-enactment in SMEs. Results suggest a positive relationship between larger firm size and a higher degree of espoused values-enactment. Implications of the results are discussed, and suggestions for further research are presented.