... were increased by a uniformly small amount for all banks. FINANCIAL INDUSTRY PERSPECTIVES 18What makes a bank efficient? A look at financial characteristics and bank management and ownership ... management and ownership struc-ture. Among theseare: Linda Allen and A. Sinan Cebenoyan,“Bank Acquisitions and Ownership Struc-ture: Theory and Evi-dence,” Journal ofBanking and Fi-nance ... re-mainder of the paper, and primary atten-tion will be directed towards manage-ment, directorship, and ownership at thebank level rather than within the parentorganization.6Bank boards...