INTRODUOO study of the corporative governana deals with the set of instruments of public and private nature, that include laws, normative forwarded by regulating agencies, internal regulations of the company and commercial usage, that they organize and they command the relation, in a market economy, between the controllers and administrators of a company, of a side, and those that in it resources through the purchase of movable values for it invest emitted as, among others, the minority stockholders and holders of debentures. The necessity of organization and use of models of management on the part of the organizations is decurrent of some occurred phenomena of very dynamic form, where as main they can be elencar: the advent of the globalization, the technological opening of the domestic market for imported products, advances, the reduction of profit edges and the end of the playing the money market, with the economic stabilization tried by Brazil throughout the last years. A significant amount of companies never if worried effectively in developing and using management models on the basis of countable and managemental information for the attainment of the longed for results. However, the entrepreneurs start to feel the necessity of if organizing, elaborating a flow of consistent information, and to speed the process of taking of decisions, beyond searching alternatives of control and rationalization of the operation costs. The quarrel on corporative governana appeared to surpass the call conflict of agency of the managers, that is resulted of the separation between the property and the management in the company. This conflict of interests can assume distinct characteristics in function of the structure of property of the companies. The relevance that the controllers and administrators must give to this type of approach of the subject can be measured by the following comment: To evaluate the company as intention to manage it on the basis of the evolution of its value is current concern of practically all the main executives, making with that in the next years the creation to value for the shareholder probably if becomes the global standard for mensurao of the performance of the business. .