Aggarwal makes this argument in "management of Accounting Exposure to Currency Changes: Role and Evidence of Agency costs," Managerial Finance (1991).
See Tufano, "Agency Costs of Corporate Risk Management," Financial Management (1998).
See, for example, Bris, Welch, and Zhu, "The Costs of Bankruptcy: Chapter 7 Liquidation versus Chapter 11 Reorganization," Journal of Finance (2006).