Associate professor of corporate finance at the Wroclaw University of Economics in Corporate Finance and Value Management Department. His recent scholarly work has focused on corporate liquidity management and the valuation of investments in current assets. Polish economist, researcher at the School of Management, Computer Science and Finance at Wroclaw University of Economics. His main area of research are Business Finance and Financial Liquidity Management. Grzegorz Marek Michalski is a professor of finance. Much of his research is aimed at understanding the determinants and dynamics of financial corporate liquidity. In his research, he has examined the firm value and cost of capital results of corporate liquidity management policies and resultts of demand for liquidity by firms. He has also investigated the effects of corporate liquidity on portfolio choice and corporate current assets decisions.