This research examines the intricate relationship between asset structure, financial constraints, and the liquidity position of joint-stock companies within the framework of modern corporate finance. By analyzing the allocation between current and non-current assets, the study identifies how structural shifts in a firm's balance sheet impact its ability to maintain short-term solvency and financial flexibility. The paper further evaluates the moderating role of financial constraints, such as limited access to external funding and high borrowing costs, which often force companies to hold suboptimal liquidity levels.