P-values of reliability and AVE

[BenLien]

When bootstrapping, SmartPLS gives p-values and confidence intervals for reliabilities and average variance extracted (AVE). What is the null hypothesis and alternative hypothesis underlying these p-values?
Comparing the confidence intervals with the p-values suggest that the null hypothesis is AVE=0 and e.g composite reliability = 0.
Given the recommended cutoffs (e.g. AVE>0.5 and composite reliability >0.7), I think it would be appropriate to report p-values based on the null hypothesis' AVE = 0.5 and composite reliability = 0.7 (both with one-sided alternative hypothesis that the values are greater than the recommended cut-off).

[jmbecker]

The p-values are based on a true null, which might not be very useful. It is only the standard option in bootstrapping. However,
1) I would not use typical p-value / t-value test here because the distribution of the reliabilities is unknown, hence I would use bootstrap confidence intervals.
2) confidence intervals can be easily compared against a 0.5 (AVE) or 0.7 (composite reliability).

[BenLien]

Thanks a lot for the answer.