No. Pivot point and parenting are different things. Children of an object inherit the transforms(location rotation and scale) of the parent. Pivot point is the point at which a transform is performed. There are time where they look similar. For example rotating 2 objects using active element as long as the active element is what would have been the parent. Now if you scale with active element you will get a different result, because to mimic parent child you would need to change to individual origins.
