Corporate governance reforms have been initiated toward a boardroom at the beginning of the third millennium. Initial efforts, undertaken by Derek Higgs, Alyson Tyson, Turnbull and others activists of corporate movement, have been supported by many promoters and followers worldwide. Shareholders, especially those whose rights have been violated for many years, realized that board practices are very inefficient and provoke a conflict of interests.
Therefore, board practices must be sufficiently reviwed. Practitioners have already moved toward shareholders. They have developed many codes of best board practices both in developed and developing countries. The US and UK promoters are leading here. But their efforts must be supported by academics who should undertake many investigations to consider the most vital problems in board practices from different points of view.
Ideas of academics from all over the world can be distributed among academics and practitioners by periodicals. Regrettably, at this time periodicals, purely devoted to corporate board practices such as Directors & Boards, Directorship magazine, publish mainly "field notes" by CEOs and directors and have a lack of deep scientific research on various aspects of corporate governance.
To support the initiatives made by practitioners in the field of reforming the board practices with an academic research, at the beginning of 2004 an initiative group consisting of Shann Turnbull, Ann-Maree Moodie and Hideki Takei, headed by Alex Kostyuk assumed responsibility to establish a new corporate board journal "Corporate Board: role, duties & composition". The Editorial board of the journal consists of the leading specialists from many countries of the world. All of them occupy high positions in educational and research institutions in their countries. This makes it possible to believe that there will be a fruitful cooperation between the editorial board of the journal and the leading foreign educational and research institutions.
The Noble prize laureates and winners of prestigious international awards have agreed to write for the journal. The journal’s cooperation with the authors of high standing will be conducive to the formation and development of the journal’s international status.
We think that the journal is really an efficient instrument of implementation of both foreign and domestic scientific ideas into the corporate governance both in developed and developing countries.