Organizational decisions are made by executives or management teams who are responsible for the strategic choice of the organization, and these decisions can therefore affect performance. Regarding Upper Echelon Theory, it also verifies, based on the studies performed, the influence of the characteristics of the management team on organizational performance. Still, it presents the hypotheses of the research assumed in this study. This research aimed to verify the influence of the demographic characteristics of senior executives on the indebtedness of companies listed in the cyclical fund screening sector of Economatica in 2018. Several studies have analyzed the relationship between executive characteristics and structure. Accordingly, the scope of this research is to verify the influence of the observable characteristics of top executives on the indebtedness of companies listed in the cyclical fund screening sector of Economatica. Through the results it was observed that the potentially strategic resources of the companies are their leaders. Thus, strategic leadership has developed into a significant succession of statistically relevant strategic management research results with corporate indebtedness.