We present a numerical simulation study of the exchange bias (EB) effect in nanoparticles with core/shell structure aimed to unveil the microscopic origin of some of the experimental phenomenology associated to this effect. In particular, we have focused our study on the particle size and field cooling dependence of the hysteresis loop shifts. To this end, hysteresis loops after a field cooling process have been computed by means of Monte Carlo simulations based on a model that takes into account the peculiar properties of the core, shell and interfacial regions of the particle and the EB and coercive fields have been extracted from them. The results show that, as a general trend, the EB field $h_{EB}$ decreases with increasing particle size, in agreement with some experimental observations. However, closer inspection reveals notable oscillations of $h_{EB}$ as a function of the particle radius which we show to be closely related to the net magnetization established after field cooling at the interfacial shell spins. For a particle with ferromagnetic interface coupling, we show that the magnitude and sign of $h_{EB}$ can be varied with the magnetic field applied during the cooling process.
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