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Purpose ― This article explores the causal link between stock and currency returns in The Middle Eastern and North African (MENA) countries from January 2011 through February 2020. Methods ― This study uses the Vector autoregressive (VAR) and the Markov switching vector autoregressive (MS-VAR) models to investigate the dynamic causality between equity and exchange rate markets. Findings ― Results indicate that this relation depends on the state of the markets. Furthermore, generally, equity returns have a significant impact on the currency markets, whatever the market state. Implication ― Regime shifts in the relationship between stock and exchange rate markets are significant for portfolio allocation because they help investors improve their investment decisions through knowledge of the dynamic link between these markets. Originality ― This study adds to the literature on the relationship between exchange rates and stock prices in the MENA countries, which have become attractive destinations for international investors due to their higher returns.

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Modeling user interaction in information systems (IS) using Process Mining techniques is an intriguing requirement for designers looking to optimize the use of various IS functionalities and make stored resources more accessible. Discovered models can thus be used in future work to present a set of recommendations to IS users. However, the large number of generated logs or user's traces result in complex models. To address this problem, in this paper, we propose a new methodology for grouping user traces prior to modeling using Formal Concept Analysis. The clustering method relies on the GALACTIC framework to generate relevant concepts, which are then used to select a specific concept for each trace using a distance measure. Considering a trace as a sequence, the proposed method generate concepts based on maximal common subsequences. The experimental part shows that our method successfully found the original clusters on a simulated dataset.