Firms operating in shock-prone emerging economies require more than financial reserves. They must be able to recognize changes in financing conditions, mobilize liquidity, reconfigure funding and asset use, preserve economically valuable investment, and rebuild depleted buffers after disruption. This article develops financial adaptability as a distinct capability-based construct and separates it from financial flexibility, financial slack, financial resilience, and broader organizational resilience. It uses an integrative conceptual synthesis of 20 verified studies spanning the resource-based view, dynamic capabilities, organizational resilience, corporate liquidity, financial constraints, crisis transmission, and commodity dependence. The proposed framework treats financial adaptability as a cycle comprising financial anticipation, liquidity absorption, financing reconfiguration, asset-use reconfiguration, profit and cost adjustment, investment preservation, and financial recovery and renewal. Eight theoretical propositions explain why adaptability should become more valuable under adverse macroeconomic conditions, when firms face financing constraints, and in commodity-dependent environments exposed to correlated price, exchange-rate, interest-rate, and credit shocks. The article further proposes observable indicators and a research agenda for construct validation, dynamic measurement, causal identification, nonlinear effects, and cross-country testing. The central argument is that financial flexibility represents available room for manoeuvre, whereas financial adaptability captures the capability to deploy, reconfigure, and replenish that room in a timely and disciplined manner. This distinction provides a foundation for future empirical work without treating any single financial ratio or static index as a complete measure of adaptive capacity.