Why do coordinate arrows displase after setting parent/child relationship between two game objects?

So, what I have here is two simple game objects. What confuses me is that after setting one object to be the parent of the other, the coordinate axies of the parent object are displaced right in the middle between those two objects. I don’t get, why does that happening? Is there a way to change this behaviour, and to make the axies of the parent object to don’t change their position?

The pivot setting is probably set to “center”. This calculates a pivot center of the parent and child objects. Just press the pivot setting to change it.