Abstarct: Economic crises increase uncertainty and financial constraints, thereby influencing firms' strategic decisions, particularly those related to investment and financing. In this context, managerial stability, as an important corporate governance attribute, may play a significant role in shaping firms' responses to such adverse economic conditions. Accordingly, this study aims to explain the role of managerial stability in shaping firms' financial strategic responses to economic crisis conditions. The findings indicate that economic crises have a negative and statistically significant effect on firms' investment and financing strategies, suggesting that deteriorating economic conditions encourage firms to adopt more conservative financial decisions. The results further reveal that managerial stability has a positive and statistically significant effect on investment strategy, whereas its effect on financing strategy is positive but statistically insignificant. In addition, managerial stability plays a significant moderating role in the relationship between economic crises and investment strategy by mitigating the adverse effects of economic crises on corporate investment and helping firms maintain their investment activities during periods of economic distress. However, managerial stability does not significantly moderate the relationship between economic crises and financing strategy, implying that financing decisions are more strongly influenced by capital market conditions, credit constraints, and the broader macroeconomic environment than by managerial characteristics. Overall, the findings suggest that managerial stability enhances firms' resilience to economic crises; however, its influence is not uniform across different dimensions of financial strategy and is considerably more pronounced in sustaining investment decisions than in financing decisions.