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Question: Discuss About The Endogeneity In Accounting Finance Research? Answer: Introducation: The methods and the techniques for the purpose of capital budgeting is inclusive of numerous processes for the description and the projection of the cases. With the help of the tables provided in the above requirement, the Net Present Value (NPV) tool has been employed for predicting the future cash outflow of the project under consideration (Beekes et al., 2015). The other techniques that are available for use are the aggregate rate of return and payback period in order to estimate the challenges that are interlinked with the project. After the examination of the tables constructed above, it can be depicted that the NPV of the project has been positive and the profitability index of the project under consideration accounts to 191.89%. The observation of a positive NPV explains that the project is possible and the firm should undertake the outlay operations of the business. The cost benefit ratio of the associated plan is constructed with the assistance of the profitability index, which has been 191.89%, which proposes that the NPV of the future cash flow is more than the primary outlay value that has been paid by the company. The other data in accordance to the approval and refusal of the project can be constructed by taking assistance of the incorporation of the other techniques of capital budgeting that includes the payback period and the aggregate rate of return (Gitman et al., 2015). The financial declaration has been computed so that knowledge about APN Outdoor Groups structure of capital can be known. The company has been known to be an ASX listed organization. The declaration has depicted that the calculation of the WACC and the examination of the critical financial ratios of the company. Evaluation of the Capital Structure of APN The WACC of APN has been 8.32% and an additional amount of $181.8 of equity has been established by the firm in 2016 in order to establish an innovative capital framework. The firm has the intention of lowering the cost of capital with the assistance of the preservation of the ideal capital framework. By taking help of the examination of the annual financial report, it is cited that during the accounting year of 2016, the debt capital proportion in the structure has fallen. APNs cost of capital can fall further by increasing the debt proportion value in their capital structure. The factor has been the equity capital that has been issued and he interest bearing liabilities has fallen in the present year (McKay, and Haque 2016). Hence, for conclusion it is depicted that value of equity has stayed at 38.1 in the current year and the debt capital overall value has accounted to 27.61. Computation of After-Tax WACC APNs net operating cash has reduced for the last three years and the per share earnings of the company has been lower by 19% than the target of the present strategies and the amount has accounted to 0.29 in the current year. The earnings per share have reduced to 31.4 in the year 2016 and this value has been lower than the previous year value of 44.4. The price earnings ratio has been found to be 16.92 in 2017. The assessment of the liquidity scenario of the company has been understood by looking at the values of ratios of cash, quick and current (Ali, 2016). The cash ratio has been 0.38; current ratio has been 1.90 while the quick ratio has been 1.89. On the other hand, the interest coverage ratio has accounted to 25.96 and the debt to asset ratio valuing at 0.23. APN Outdoor and the performance of their competitors Ooh Media has been one of the key competitors of APN. The capital framework of the firm is mingling of the equity and loans. The capital equity amount rises with the company loans and therefore it can be defined that the capital structure of APN is a mixture of the debt and capital. There has been a transition in the capital framework of APN for the past three years and they have been based on the equity financing loan (Unda, 2015). Therefore, it can be said that the capital framework of the organizations is a mixture of financing their assets (Sivathaasan, 2016). APN has obtained an effective cash flow that aids in funding the projects and establishes favourable earnings to the shareholders. Capital Structure of APN Outdoor Group APNs capital structure is a mixture of equity and debt with the idea of funding the asset. The cost of capital is the rate of return that is predicted by the company on the revenue over the capital as an alternate amount of investment with the existence of risk. (Gallagher et al., 2015) The transitions on the capital framework have a straight effect on the WACC. Thus, to increase the market value, it is vital for the firm to reduce their cost of capital. The cost of capital of a company can be declined with the assistance of redeveloping their capital framework and it is to be scrutinised that the cost of capital does not exceed the anticipated return rate. The cost of capital being lower would make funding in the new projects more reasonable (Gippel et al., 2015). Conclusion After the evaluation of the above case study, it can be depicted that the capital framework of APN comprises of debts and equity, they have been providing feasible returns to the shareholders and hence provides increased dividends to their stakeholders. The revenue and the returns before interest and tax of the firm have undergone an upward movement that has help in establishing feasible returns to the stakeholders. Reference List Ali, S. (2016). Corporate governance and stock liquidity in Australia: A pitch.Jo Beekes, W., Brown, P., Zhang, Q. (2015). 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