An Application of the Boostrap Method to the Simultaneous Equations Model of the Demand and Supply of Audit Services*
在审计服务供需联立方程模型中应用自助法，发现广义最小二乘法会高估t统计量和p值，尤其对审计质量这一关键定性变量影响更大。
Abstract This paper extends the application of the bootstrap method in accounting research to a simultaneous equations model of the demand and supply of audit services with mixed qualitative and continuous dependent variables. A moderately sized sample of 118 quality control reviews (Copley, Doucet, and Gaver 1994) is used to demonstrate the bootstrap method and compare results to estimates of standard errors obtained from Amemiya's 1978 asymptotic generalized least squares (GLS) procedure. We find that the GLS t ‐statistics are inflated by as much as 55 percent and the corresponding p ‐values are likewise overstated when compared to the bootstrap results. The problem is more acute with the qualitative dependent variable for audit quality, which is often the key variable of interest.