網紅行銷是全球行銷人員與消費者互動極其重要的行銷策略。在社群媒體興盛的 時代裡，Instagram 在網紅行銷策略中被認為是最具影響效力的社群平台之一。 面對美國聯邦貿易委員會(FTC)更具嚴苛的廣告準則，網紅在商業成份資訊的 公開與闡述必須更加嚴謹。當遵循 FTC 所制定之相關規範變得不再只是一種選擇， 網紅們該如何去應對是未來將面臨的最大挑戰。專家學者與業者依據追蹤人數多 寡將網紅進行劃分。本研究採 2(微型網紅 vs.大型網紅)x2(部分資訊公開 vs.完整 資訊公開)二因子實驗，探討不同資訊公開程度與不同網紅形式對於廣告效果(廣 告認知、廣告態度、品牌態度、購買意願、可信度與贊助透明程度)的影響。此外， 廣告懷疑亦會納入研究以更全面分析消費者行為與資訊空開程度的關聯性。過去 研究著重在資訊公開與否的的影響力探討，而鮮少對資訊公開程度有更加深入的 琢磨。因此，本研究將完善呈現在所有條件下不同程度的商業關係。此研究結果 將利於網紅與專家學者們在遵行 FTC 廣告時，能更理解網紅與消費者行為間的商 業關係。

Influencer marketing has become an essential strategy for marketers worldwide to engage with consumers. Instagram is considered to be one of the most effective platforms for influencer marketing. In the future, the biggest challenge for influencers will be disclosing commercial content in accordance with the guidelines by the Federal Trade Commission (FTC). The stringent regulations make disclosure a necessity but not an option anymore.
Scholars and practitioners categorize social media influencers into different groups according to the number of followers. This study investigates the relationship between four conditions (micro- & macro-influencer * partial & full disclosure) and corresponding ad effects. The latter includes ad recognition, attitude toward the ad, attitude toward the brand, purchase intention, credibility, and sponsorship transparency. Since people have different attitudes, the degree of ad skepticism will be taken into account. The online survey aims to determine the impact of different disclosure levels and different types of influencers on consumer outcomes. The results should help scholars and practitioners to better understand the relationship between influencers and consumer behavior when fulfilling FTC regulations.
The findings confirm differences in ad effects when comparing two types of influencers. Especially when complying with the FTC's regulations, disclosure has significant effects on the type of influencer and consumer outcomes. Further, the results narrow down the turning point at which consumers perceive an influencer differently.

Table of contents
Thesis/dissertation validation letter....................................................................................i
摘要.................................................................................................................................. ii
Abstract ........................................................................................................................... iii
Table of figures ................................................................................................................vi
Table of tables ................................................................................................................ vii
Table of abbreviations................................................................................................... viii
1.Introduction ...............................................................................................................1
1.1. Background .......................................................................................................1
1.2. Research definition............................................................................................5
Literature review .......................................................................................................7
2.1. Instagram and marketing spending ...................................................................7
2.2. Social media influencers ...................................................................................8
2.2.1. Benefits of SMI .......................................................................................11
2.2.2. Categorization of SMI.............................................................................12
2.3. Native advertising ...........................................................................................14
2.4. Disclosure guidelines ......................................................................................16
2.5. Theoretical rationale........................................................................................21
Hypotheses ..............................................................................................................24
Methodology ...........................................................................................................29
4.1. Design .............................................................................................................29
4.2. Participants ......................................................................................................30
4.3. Materials and stimuli.......................................................................................30
4.4. Procedure.........................................................................................................33
4.5. Reliability, validity, and common method bias ..............................................34
4.6. Measures .........................................................................................................35
4.6.1. Manipulation check.................................................................................35
4.6.2. Control variables and covariates .............................................................36
4.6.3. Dependent variables ................................................................................37
4.6.4. Demographics .........................................................................................40
Analysis and Results ...............................................................................................42
5.1. Analysis of data...............................................................................................42
5.2. Summary of the results....................................................................................54
Discussion ...............................................................................................................55
6.1. Hypotheses testing ..........................................................................................58 Conclusion...............................................................................................................61
7.1. Implications.....................................................................................................63
7.2. Limitations and criticism.................................................................................67
7.3. Further research...............................................................................................68
References ...............................................................................................................69
Appendix .................................................................................................................76

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