Studies persuasively show that parental power assertion contributes to children’s hostile (defensive) mindsets, but most examined severe forms of control (abuse, harsh punishment) and aggressive children. Less is known about processes linking power assertion with children’s hostile mindsets in typical, low-risk families. Further, specific mechanisms accounting for associations between parenting and hostile mindsets are unclear; children’s theory of mind (ToM) and regulation have been suggested, implying equifinality in developmental cascades. Finally, factors that moderate impact of parenting on children’s hostile mindsets, implying multifinality, are unclear. In a study of 200 mothers, fathers, and children, we proposed that links between parental power assertion and children’s hostile mindsets are (a) accounted for by two parallel mediators – children’s poor ToM and poor regulation, and (b) moderated by their representations of parents. We expected links between power assertion and hostile mindset to be significant for children with negative representations, but defused, or absent, for children with positive representations. Parental power assertion was assessed at toddler and preschool age, ToM and regulation at preschool age, and hostile mindsets and representations of parents at early school age. We supported both mediated paths for mother–child dyads, mediation via child regulation for father–child dyads, and moderation for both.