Burgeoning complexity and variability in the political and social contexts in which multinational enterprises (MNEs) operate has led to increased research on MNE nonmarket strategy. This focus is enhanced by ethical concerns about the nonmarket practices of big business, particularly in institutionally fragile or nascent market contexts. In this introduction to our special issue on the complexities and varieties of nonmarket strategy, we review the extant research on MNE nonmarket strategy, specifically on corporate political activity and corporate social responsibility. Our review suggests that to address the complexities related to nonmarket strategy in a changing international context, corporate stewardship is inadequate and MNEs must adopt a more authentic and culturally embedded values-based nonmarket strategy approach, which can contribute to long-term advantage. Subsequently, we introduce and synthesize the papers in our special issue and present a research agenda for furthering scholarship on values-based nonmarket strategy.