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Author

Dong Zhang

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Open access Aug 2026

Corporate diversification and Ponzi finance

This study aims to examine the conceptual link between corporate diversification and Ponzi finance, drawing on Minsky's financial instability hypothesis (FIH). While diversification is traditionally regarded as a strategy to mitigate risk, the analysis argues that diversification can paradoxically heighten financia...

Min Bai, Dong Zhang, Liu Yuan et al. · 0 citations

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