Investments and long-term financing are considered one of the most important financial decisions that occur in the upper echelons of corporations. Given the prerogatives making Board decisions (CA) related to disbursements and obligations of the company and considering the different roles played by this collective body, the thesis present offers as a proposal to advance the association's research field between the exerted role the Boards of Directors of companies listed on the Brazilian Stock Exchange B3 SA - Brazil Exchange Desk, belonging to the governance segment called basic on the level and quality of investment and the level of indebtedness of the companies belonging to this sector. To this end, it established a theoretical model structured in 19 hypotheses. The results are presented in three trials. The first constitutes a systematic research theme in the main database, the second assay examines possible antecedents related to the adoption of certain role for the board, assuming that three records relate to the adoption of particular role for CA, is used in this test, the content in document analysis method produced by the board and hypothesis testing. In turn, the third essay investigates the effects on investment and indebtedness of the sample, from the adoption of certain role, uses regressions in a longitudinal analysis of data in dynamic panel (Dynamic Panel Data). using the estimation technique called Generalized Method of Moments (GMM) as a method.