The organic ligands of the interfacial layer can influence the photoluminescence (PL) of a nanoparticle via various mechanisms, two of which are surface passivation and carrier trapping.
Surface passivation: At the surface of an uncovered nanoparticle (without an interfacial layer) dangling atoms are found. These bonds form energy levels between the HOMO-LUMO gap, thereby leading to non-radiative relaxation. Due to the binding of ligand molecules with the dangling orbitals, the energy of these states is shifted away from the HOMO-LUMO gap. This prevents nonradiative relaxation, and thus results in more PL. The strength of this effect strongly depends on the type of ligands. In general, small, linear ligands, do better than bulky ligands, because they lead to a higher surface coverage density, therefore allowing more dangling orbitals to be passivated.
Another surface effect is carrier trapping. Here the ligands can scavenge the electron(holes) in the nanoparticle, thereby precluding radiative recombination and thus leading towards a reduction in PL. A well-known example of such ligands are thiols.
The light conversion efficiency can also be improved using an interfacial layer that exists of compounds that absorb in a wider energy range and emit at the absorption energy of the nanoparticle. According to C. S. Inagaki et al the absorption band of a metallic nanoparticle was shown to drastically increase in width, caused by the overlap of transitions in the interfacial layer and the plasmon resonance band of the nanoparticle. This phenomenon can be used in practical applications like  LED's and solar cells. In these technologies either the efficiency of absorption or emission is of critical importance and nanoparticles with an interfacial layer could be used to improve this efficiency by either absorbing or emitting at a wider range of energies.