Heterogeneous carboxylated styrene-butadiene (S/Bu) latexes were prepared by a two-stage emulsion polymerization process, using three PS seeds with different molecular weights. The second-stage polymer was a copolymer with a fixed S/Bu ratio of 1 : 1 and a methacrylic acid (MAA) content of either 1 or 10 wt %. Morphological studies by transmission electron microscopy (TEM) as well as studies of the viscoelastic properties by mechanical spectroscopy have been performed on films prepared from the latexes. The studies showed that the glass transition temperature, T-g, of the second-stage polymer was considerably affected by copolymerization with MAA. An increase in the MAA content in the second-stage polymer increased the T-g of this phase significantly. Addition of DVB as a crosslinking agent in the preparation of the PS seed phase substantially increased the rubbery moduli of the films, whereas the glass transition temperature of the second-stage polymer was unaffected. On the other hand, the presence of a chain transfer agent reduced the glass transition of the second-stage copolymer containing 1 wt % MAA dramatically, whereas the rubbery modulus was unaffected. When the MAA content was increased to 10 wt % the influence of the MAA monomer had a dominating effect on T-g. Latexes containing 10 wt % MAA had T-g values close to each other, regardless of chain transfer agent present in the second-stage polymerization. It was found that the morphology of the latex particles influenced the rubbery modulus of the films. The presence of irregularly shaped seed particles in samples prepared from a crosslinked PS seed bad a considerable reinforcing effect on the films, whereas spherical seed particles originating from core-shell particles had a less reinforcing effect.