Strategic Cash Holding in Digitalized Corporations: The Impact of AI-Based Forecasting and the Moderating Role of CFO Digital Competency

This study investigates the determinants of strategic cash holding (SCH) in digitalized corporations, with a specific focus on the roles of AI-driven financial forecasting, ERP-integrated data analytics, and CFO digital competency. Guided by the Dynamic Capabilities Theory (Teece et al., 1997) and the Upper Echelons Theory (Hambrick & Mason, 1984), the research conceptualizes SCH as a proactive and data-informed financial strategy rather than a passive liquidity buffer. Employing a probability-based stratified sampling method, data were collected from 610 respondents across Vietnam, comprising senior financial executives, ERP consultants, academics, and corporate data analysts. After data cleaning, 385 valid responses were retained for analysis. Using a 5-point Likert scale survey and quantitative modeling, the findings reveal that both AI-based forecasting (β = 0.50, p < 0.05) and ERP-integrated analytics (β = 0.47, p < 0.05) exert significant positive effects on SCH. Furthermore, CFO digital competency demonstrates a moderating effect (β = 0.42, p < 0.05), amplifying the impact of ERP analytics on liquidity management. The results extend theoretical discourse by confirming that digital technologies function as dynamic capabilities and that leadership cognition critically mediates their effectiveness. Practically, the study underscores the importance of integrating technological adoption with executive upskilling to achieve financial resilience. While limited to Vietnamese enterprises and cross-sectional data, the research provides a robust framework for future investigations into the interplay between technology, leadership, and financial governance in emerging markets.