Can a deceased person be influenced by good or bad events that happen to their loved ones during their lifetime?

This is a question Aristotle asked himself.
It is clear that Aristotle also recognised the possibility that the dead are in some way affected by what happens to their loved ones among the living.
If Aristotle remains ambiguous on this point and does not give a clear answer, Dante Alighieri shows how this connection is very much alive. Let us consider the episode of Cavalcante de’ Cavalcanti in Inferno X, 61–72, where one can clearly see how the fate of the son influences the happiness of the father:

E io a lui: «Da me stesso non vegno:
colui ch’attende là, per qui mi mena
forse cui Guido vostro ebbe a disdegno».

And I to him: “I come not of myself:
he who waits yonder leads me through this place,
perhaps the one whom your Guido held in scorn.”

Le sue parole e ’l modo de la pena
m’avean di costui già letto il nome;
però fu la risposta così piena.

His words and the manner of his punishment
had already revealed to me his name;
therefore my answer was so complete.

Di subito drizzato gridò: «Come?
dicesti "elli ebbe"? non viv’elli ancora?
non fiere li occhi suoi lo dolce lume?».

He rose up suddenly and cried: “How?
Did you say ‘he had’? Does he not still live?
Does not the sweet light strike his eyes?”

Quando s’accorse d’alcuna dimora
ch’io facea dinanzi a la risposta,
supin ricadde e più non parve fora.

When he perceived some delay
in my answer,
he fell back supine and appeared no more outside.

And Brunetto Latini in Inferno XV, 119–120, where one can see how the fortune (fortuna) of his book Il Tesoretto on earth conditions and mitigates his state in Hell:

Sieti raccomandato il mio Tesoro
nel qual io vivo ancora, e più non cheggio.

May my Tesoro be commended to you,
in which I still live, and I ask for nothing more.