中文摘要：

基于金融危机背景,分别以2007年308家上市公司和2009年600家上市公司为样本,通过实证分析,探讨银行债权优先结构对权益代理成本的影响,并比较不同控制权类型上市公司的债权优先结构对代理成本影响效果的异同。研究结果显示：（1）银行债务融资有助于降低权益代理成本;（2）质押、抵押债务融资比率与权益代理成本呈显著正相关,尤其在国有控股上市公司;（3）保证债务融资比率与权益代理成本显著负相关,国有控股上市公司保证债务的治理效果更好;（4）金融危机前期和后期的实证研究结论基本一致,这表明本文的研究结论具有稳健性。

英文摘要：

Based on the background of financial crisis, this research takes 308 listed businesses in 2007 and 600 listed businesses in 2009 as samples to study empirically the impact of debt priority structure of bank on agency costs of equity and the different effects of the impact of debt priority structure of bank on the agency costs in different control type businesses. It finds that ： （ 1 ） the debt of bank can help reduce agency costs of equity; （2） the correlation between pledge mortgage debt rate and agency costs is significant positive, especially in government control listed businesses; （3） the correlation between guarantee debt rate and agency costs is significantly negative, and government control listed businesses enjoy more effective governance of guarantee debt; （4） the empirical results before and after financial crisis are basically consistent, which indicates the solidity of conclusion of the research.