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Abstract Based on the international learning as the intermediary variable and hostcountry institutional context as the moderating variable, the research constructs the theoretical model of the relationship between overseas network embeddedness and internationalization performance. By conducting the questionnaire survey of 353 exportoriented manufacturing enterprises in China's Yangtze River Delta region, the research results reveal that overseas network embeddedness has a positive effect on internationalization performance,and international learning has the partial intermediator in the relationship between the overseas network embedness and internationalization performance. Further, the research results reveal that hostcountry institutional context positively moderates the relationship between overseas network embeddedness and international learning, and hostcountry institutional context positively moderates the relationship between overseas network embeddedness and internationalization performance. The research results provides some theoretical implications for enterprises to promote overseas network embeddedness and international learning to achieve internationalization performance.
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