International Journal of Academic Accounting, Finance & Management Research (IJAAFMR)   Year: 2022 | Volume: 6 | Issue: 6 | Page No.: 26-33 Corporate Finance Alternative and Shareholders' Value Creation in Nigeria Download PDF EHIEDU, Victor C. Ph.D. Abstract: This study examined the effect of corporate alternative finance choices on shareholder value creation of quoted firms in Nigeria. The study spanned from 2011 to 2020. The study focused on Nestle, Cadubry, and Flour Mill. The study patterned after the Panel data Methodology. Accordingly, the Ha us man test was used to determine between the Fixed and Random Effect model. The result concluded that the Random Effect Model is the most efficient model for this study. Specifically, the study indicated that the association between alternative finance alternatives and shareholder value is favorable and significant based on the findings of the analysis. The foregoing research has provided an understanding of the importance of alternative finance alternatives in a company's statement of financial status as it relates to shareholder value. The study recommends that large companies should prioritize debt financing over equity financing because debt financing has a positive impact on their performance. Again, debt capital is tax deductible, resulting in an increase in the firm's performance. Lastly, as the firm's financial performance improves, interest payments can be easily canceled.