Effects of the spin-orbit coupling (SOC) and magnetic field on excitonic insulating (EI) states are investigated. We introduce the two-orbital Hubbard model with the crystalline field splitting, which is a minimal model for discussing the exciton con
densation in strongly correlated electron systems, and analyze its effective Hamiltonian in the strong correlation limit by using the mean-field theory. In the absence of the SOC and magnetic field, the ground state changes from the nonmagnetic band-insulating state to the EI state by increasing the Hund coupling. In an applied magnetic field, the magnetic moment appears in the EI state, which is continuously connected to the forced ferromagnetic state. On the other hand, in the presence of the SOC, they are separated by a phase boundary. We find that the magnetic susceptibility is strongly enhanced in the EI phase near the boundary with a small SOC. This peculiar behavior is attributed to the low-energy fluctuation of the spin nematicity inherent in the high-spin local state stabilized by the Hund coupling. The present study not only reveals the impact of the SOC for the EI state but also sheds light on the role of quantum fluctuations of the spin nematicity for the EI state.
