Global economic uncertainty, driven by exchange rate volatility, inflationary pressures, supply chain disruptions, and tightening external financing, has significantly increased liquidity risk faced by firms. Under such conditions, effective cash and liquidity management becomes a critical strategic policy rather than a purely operational function. This article provides a comprehensive conceptual and empirical synthesis of corporate cash and liquidity management practices in the context of global economic uncertainty and examines their implications for corporate performance.

Using an integrative literature review approach, this study consolidates theoretical foundations and empirical findings related to cash holding motives, working capital management, liquidity risk, and financial flexibility. The analysis demonstrates that firms respond to heightened uncertainty by strengthening precautionary liquidity buffers, tightening working capital policies, and increasing reliance on internal liquidity as a substitute for constrained external financing. However, the findings emphasize that liquidity resilience is most effectively achieved through a portfolio-based strategy that combines scenario-based cash flow forecasting, efficient management of receivables, inventories, and payables, disciplined cost control, and diversification of liquidity sources.

The article further highlights that the relationship between liquidity management and corporate performance is non-linear and context-dependent. Adequate liquidity enhances operational resilience and strategic optionality, enabling firms to survive economic shocks and exploit emerging opportunities. In contrast, insufficient liquidity heightens financial distress risk, while excessive liquidity may generate opportunity costs and agency problems that weaken firm value. By framing liquidity management as a dynamic and adaptive strategic policy, this article contributes to the corporate finance literature and provides practical insights for managers, investors, and policymakers operating in uncertain economic environments.

Keywords: Cash Management, Corporate Liquidity, Economic Uncertainty, Working Capital Management, Financial Resilience.