The maximization of shareholder's wealth still does not consider the time value of capital, does not consider the risk factors, and still exists the short-term behavior of the enterprise, which will cause some disasters to the development of the enterprise; the maximization of shareholder's value can only have a clear value reflection in the listed company, which is difficult to apply to the non listed company; because of the dispersion of stock and the asymmetry of information, the managers are real Now the maximization of self-interest is likely to make adverse selection at the cost of losing the interests of shareholders.