Yes, it does. In battle, everything counts, even the leadership of the summoned creatures. So in essence, if you want to capitalize on your dragon most efficiently, use fewer units (or several stacks only) and do not summon :)

Is it true that the pet dragon doesnt get any experience from hero fights? I noticed that my pet was not keeping up with my level. Im level 44 and my pet is level 32(not like I use him much anyway, mainly for treasure/mana accell/ball lightning) but I decided to give him a few levels since he was so far behind. I went to the lecture hall to get my diploma, and I ABUSED of the phantom/inquisitor/mana accell combo, I could go on like that forever, its an infinite loop. I went through about 40 rounds, after that I discovered my pet didnt get a single level i was like wtf.... while I leveled, now im lvl 45 and my pet is still 32, I guess Ill have to do the combo on a regular opponent.....

ps: I just checked and the infinite loop didnt work on a regular opponent also, my pet didnt get any experience at all while doing the combo. After that I reloaded and beat the same guy as fast I could using the dragon only a few times, and he got experience(very little though) so I guess the amount of exp ur pet gets is related to the amount of troops ur opponnent has? Im lost here, I guess Ill just forget about the pet, he is rather useless other than using ball lightning or giving me mana(another 2 steps too).