Models for the X-ray spectra and variability of luminous accreting black   holes
  The X-ray spectra of luminous Seyfert 1 galaxies often appear to be reflection dominated. In a number of Narrow Line Seyfert 1 (NLS1) galaxies and galactic black holes in the very high state, the variability of the continuum and of the iron line are decoupled, the reflected component being often much less variable than the continuum. These properties have been interpreted as effects of gravitational light bending. In this framework, we present detailed Monte-Carlo simulations of the reflection continuum in the Kerr metric. These calculations confirm that the spectra and variability behaviour of these sources can be reproduced by the light bending model. As an alternative to the light bending model, we show that similar observational properties are expected from radiation pressure dominated discs subject to violent clumping instabilities and, as a result, have a highly inhomogeneous two-phase structure. In this model, most of the observed spectral and variability features originate from the complex geometrical structure of the inner regions of near-Eddington accretion flows and are therefore a signature of accretion physics rather than general relativity. 
Julien Malzac, Andrea Merloni, Thitiwat Suebsuwong