In this article, we focus on the diverse relationships between expectations, values, goals and engagement in a French-language MOOC in Québec. Using a theoretical perspective based on self-regulation and an expectancy-value model of socio-cognitive motivation (Pintrich, 2003), we analyze the relationship between motivation and engagement by comparing observed relationships to the predictions of our theoretical model. To do this, we use data from 531 responses to a questionnaire distributed to the participants of a MOOC in the HEC Montréal Edulib initiative, Introduction to Marketing, offered in fall 2014. A multiple correspondence analysis on the reported activities allowed us to design a composite score for behavioral engagement. Subsequently, we used a structural equation approach to test our theoretical model, after operationalizing the anticipated relationships between the variables. Our results point to an acceptable model that confirms several of our theoretical predictions. The perceived value is linked to both extrinsic and intrinsic goals, but intrinsic goals are much more strongly related to cognitive engagement than extrinsic goals. No significant relationship was observed between cognitive engagement and behavioral commitment, however, raising questions of measurement, as well as theoretical questions for an adult clientele participating in a MOOC.