Model Establishment of Multi-level Principal Agent based on Corporate Governance of High-tech

This paper studies the difference of multi-level principal agent model between the company of high-tech and traditional company from two aspects. Firstly, this paper establishes multi-level principal agent target function among stockholder, the board of director and manager of the company of high-tech based on common company´s function; Secondly, it also establishes multi-level principal agent model between manager and employee of the company of high-tech based on common company´s function. According to comparison, the difference between the company of high-tech and traditional one results from company´s special characters. The results show that the company of high-tech should set up special human resource power mechanism other than common one.