The listed company can not be an optional management model until the company has developed to a certain degree, and The listed company will bring  the following advantages and disadvantages .
Advantages:
1.  Through legal efforts, it can get the required development funds at the lowest funding cost from an IPO. As we know, whether a company is large or not, whether the benefits are immense or not, it will not lack funds if this company has its responsibility and vocation.  The funds is like blood running and developing the company,   and only revenue stream can always ensure important supplies for realizing the company strategy. 
2.  Through share listings, it can expands the well-knownness and reputation to raise the company's wider profile.
3.  If a company can get to be a listed company, it's always the industry benchmark, and can enhance rapidly the company's position by going public
4.  The company shall be subject to supervision of the supervisory departments and the public after going public, in favor of forcing the company to standardize management, run business carefully and take the social responsibility, meanwhile the above actions can be a basic precondition and power to assure and promote a sustained development of enterprises
5.  After being a listed company there are advantages in attracting and keeping qualified personnel. HR is the first resources for the company. Management process can be a kind of process in which the company focuses and gets all kinds of resources and applies them to realize value preservation and increment. But all resources need be used by human. If the third-rate resources are used by the first-rate personnel, the efficiency and effect must be more than those of third-rate personnel’s using first-rate resources. As to a listed company, the fine reputation, popularity, enough funds, treatment and encouragement scheme of the stock option are all plus factors to attract qualified personnel
6.  As a public company,the listed company shall be subject to supervision of CSRC, meanwhile it must be given serious attention by the local government because of suiting industrial policy,high-level management and great tax contribution. But the illegal behavior of listed company will bring itself more burden, it’ll be careful when facing a listed company.
7.  As a listed company, it’ll have a professional management team after going public. A capable team can reduce load of the controlling shareholders and the actual controllers, making them look like a tiger with wings. They need not attend to everything personally, they can get proportionally more money and spare time in favour of transformation from entrepreneur to investor.
8.  The market value of shares in a company in the stock market is based on the listed company fundamentals and the market value. According to the lever principle of capital markets, after going public the market value can bring the company more wealth in logarithmic leaps. and so do the persons who have shares.
Disadvantages
Without doubt, everything has two sides from a dialectical point of view. Getting a listed company can also bring the following disadvantages
Firstly, it’s a low successful rate for corporations to apply for IPO. Although the pass rate has risen for these years, no longer as the old Chinese says “the bridge to employment led to a narrower path for more”, it still fluctuates significantly. As far as the data of 2018, according to the open data total 199 companies filed to go public in 2018, but only 111 companies passed audits, in which the pass rate of A share IPO was 55.78%, and a 29.65% failure rate. Calculated the way the last 172 companies, the rate is only 64.53%. Total 102 companies passed IPO application in 2018, but total 401 companies did in 2017. It follows then that failure risk is still great. Once defeated, it’ll lead to a large loss of time and economic cost.
Secondly, because of the mandatory disclosure system, all important information of the listed companies shall be made public, which will constitute a challenge to trade secret of the listed company.
Thirdly, after going public, it’ll probably cause that actual controllers lose control of the listed company. Comparing with stock unlisted companies and non-stock limited companies,stock has legal market liquidity not controlled by actual controllers in the secondary market, which will lead to a stock collection in theory, and then the actual controller can not control the listed company. According to Company Law of the People's Republic of China, in the stock unlisted companies and non-stock limited companies other shareholders have the right of preemption when equity transfer happens, and can not take the liberty of transferring the ownership to external without other shareholders’consent . it assures that actual controllers, in the stock unlisted companies and non-stock limited companies, can control the companies on the basis of a state legal system.
Fourthly, after going public, cost of maintaining shall be needed, such as mandatory disclosure, fulfilling social responsibility, employing an independent director and annual fee etc.