Yes. You don't Copy/Paste the data from the Master sheet to the Subsidiary sheet, you Link the data.
With both sheets open, click a cell in the Subsidiary sheet and type = then go to the cell in the Master sheet that it needs to link to and press Enter. Now any changes to the cell in the Master sheet will update automatically in the Subsidiary sheet. If the Master sheet isn't open when you launch the Subsidiary sheet, you will be prompted to Update the linked cells, which can be done without opening the Master sheet.