They certainly can do so. I recently replaced long runs (6m) of thick (6sqmm) van Damme cables with Neotech NES 3002 cables Big price difference. The Neotech are made of OCC copper and have multiple thin cables in much better insulation. The result was that good recordings sound much better: more detail and better sound stage. Bright recordings now sound a bit too bright but can be tamed inexpensively with a Schiit Loki.
Here's a link: https://wp.neotechcable.com/up-occ-copper-cable/
As far as I understand (not very far really) one factor explaining the difference is the difference in skin effect between one thick cable and lots of little ones which together have the same volume as the thick one.