Let's say that an editorial board "turns over" on March 15th. Do the incoming articles editors actually wait until 3/15 to read manuscripts, or do they start a few days early so they can be ready to recommend articles at the first board meeting?
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The practice at Tulane is that articles aren't read until the new board is installed, so, March 15th in your example.
Then again, we had nothing like the same amount of article in-flow as most major law reviews. Whether that makes a difference, I couldn't rightly say.
My sense from observing other journals is that practices differ over time and across journals. I have seen outgoing boards saddle the incoming board with articles that the outgoing boards would themselves not shepherd into print, and it always causes conflicts. A staggered - and early - transition between new and old boards is preferable, with submissions folks starting work as soon as they have been officially selected for the job.
I saw a very similar post last year and wonder which law reviews stop substantive work during the "turnover" period. Admittedly, our review places a very high emphasis on publishing on schedule and responding quickly to authors' submissions, but I didn't know we were an outlier in this regard.