Abstract
The molecular theory of optically induced static magnetization is extended to systems acted on with a dc electric field. The two effects, the invers Faraday effect and invers magnetochiral birefringence, are analysed for their dependence on an electric field perpendicular or parallel to the propagation direction of the incident light beam. The mechanisms responsible for the effects are described in terms of linear and nonlinear multipole polarizability tensors as well as molecular reorientation functions defined by the generalized Langevin-Kielich functions. The effects at electric saturation are a source of information concerning the tensor components of electric dipole, magnetic dipole and electric quadrupole polarizability.