The present invention relates generally to monovinylarene-conjugated diene block copolymers adapted for shrinkable film applications. In one embodiment, a block copolymer is provided wherein an oriented 2 mil film of the block copolymer oriented at 100.degree. C. or less exhibits less than 10% shrinkage at 70.degree. C., and at least 70% shrinkage at 100.degree. C.