<p>In this study we explored the dynamic relationships between emotion valence and empathic accuracy, with the goal of shedding light on how empathic accuracy is both predicted by and predicts emotion valence during interactions. To do so, we analyzed data from a lab study wherein leader-follower dyads engaged in a discussion about positive and negative experiences they had had together, and subsequently reported on their own emotions, their emotion valence and the emotions and emotion valence they perceived in their partner. This resulted in 24 repeated observations per dyad member, nested within 49 dyads (N_total = 2352), which were analyzed using longitudinal actor-partner interdependence models within the dynamic structural equation modeling framework. Our analyses revealed that a leader’s own emotion valence, as well as the valence perceived in their partner, positively predicted their own empathic accuracy at a later time point. We found no relationship between empathic accuracy and emotion valence at a later time point for either leaders or followers. Our results underscore the role that power may play in the effect of emotion valence on displays of empathic accuracy.</p>