In this paper a process is viewed as a labeled graph modulo bisimulation equivalence. Three topics are covered: (i) specification of processes using finite systems of equations over the syntax of process algebra; (ii) inference systems which are complete for proving the equivalence of regular (finite state) processes; (iii) variations of the bisimulation model.

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Springer
doi.org/10.1007/BFb0013021
Workshop on Linear Time, Branching Time and Partial Order in Logics and Models for Concurrency
Specification and Analysis of Embedded Systems

Bergstra, J., & Klop, J. W. (1989). Process theory based on bisimulation semantics. In Lecture Notes in Computer Science (pp. 50–122). Springer. doi:10.1007/BFb0013021