本文通过对公司治理的概述及对可转换债券的概念、性质和作用的描述,并通过国外对可转换债券的研究说明可转换债券作为特殊的金融契约工具,它通过设计投融资双方的信号传递与交流机制相应降低了由于信息不对称带来的代理成本,从而使资本结构在治理公司过程中实现最优。 Through the description of corporate governance and the description of the concept, nature and function of convertible bonds, and through the study of foreign convertible bonds in foreign countries, this paper shows that convertible bonds, as a special instrument of financial contract, Corresponding to the exchange mechanism, the agency costs due to asymmetric information are reduced, so that the capital structure can be optimized in the process of corporate governance.