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Building upon Marsh and Hau’s study (2003), we revisited a theory called the big-fish-little-pond effect (BFLPE) that an individual student’s academic self-concept was negatively affected by their schools’ academic achievement levels. We also examined if the BFLPE was applicable to students’ academic self-efficacy. For empirical analyses, we used PISA 2006 and PISA 2012 data to test the BFLPE on different domain-specific self-concept and self-efficacy measures. The results show that the BFLPE appears universal for students’ self-concept in both science and mathematics across OECD countries. However, the BFLPE was not consistently found in self-efficacy. We provide theoretical explanation in different results between academic self-concept and academic self-efficacy from the literature review.