企业债务代理成本与债务结构存在紧密的联系。

There exists a close relationship between enterprise debt agency debt and debt term structure.

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企业债务中的债券具有的信号显示功能，有助于总体债务代理成本的降低。

Bonds in enterprise debts have signaling function, which can lower debt agency cost on the whole.

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但由于债务本身亦存在代理成本，因此，企业资本结构决策必须在股权代理成本与债务代理成本之间做出权衡。

For debt also has agency cost, an enterprise has to weigh between equity agency cost and debt agency cost when making capital structure decision.

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