I know that the use of axiom schema in first-order theories can usually be eliminated by allowing higher-order quantification. So, a theory that isn’t finitely axiomatizable in a first-order language might be finitely axiomatizible in a higher-order. (Although I know that when this is done with the full semantics, the proof system loses many desirable properties.)
I’ve never seen discussion of finite axiomatizability in the context of infinitary logic, though. While I know that, similar to the higher-order case, infinitary languages allow for a finite number of axioms in place of first-order schema, I don’t know what effect (if any) the fact that these axioms will be infinitely long has on the applicability of “finite axiomatizability”. Is it just that the proof system will lose desirable properties, as in the higher-order case (with Barwise compact theories presumably enjoying somewhat “nicer” proof theoretic properties)? Does the concept of “finite axiomatizability” require the axioms be of finite length?
(I apologize for the lack of clarity, I’m grasping a bit here.)