Abstract
Self‐reporting questionnaires as well as projective tests are frequently used in entrepreneurship and management research that is concerned with the need for achievement. The purpose of this study was to examine whether an objective test such as the Cesarec‐Markes Personal Scheme (CMPS) and the Thematic Apperception Test (TAT) have any predictive validity on the entrepreneurial activity of starting a new business. The study had a longitudinal design. Psychological measurement of need for achievement was conducted before the entrepreneurial decision was made. The period between the psychological measurement and the collection of the data for the longitudinal study was 11 years. In summary, the result of the study does not support the hypothesis that the TAT has any predictive validity. On the other hand, the result of the study does support the hypothesis that the objective test CMPS has predictive validity.
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