Video games can effect kids at home in many different ways.
Such as having problems falling asleep at night. Also if they see violent actions such as cussing or fighting and they try to imitate it and start aggressive behavior. It can also increase heart rate and blood pressure. Tests have shown that it is harder to wake up in the morning and they may become tired during the day. This can make kids tired during school, this can effect their grades which is a serious problem. Examples of games like this are halo, grand theft auto, call of duty, medal of honor, destroy all humans, gears of war, saints row, fight night, alien vs. predator, and dead rising.
There are also some videogames that create a positive influence such as the  leapfrog company this company creates video games for learning purposes.

Home | Fight or Flight Response Effect at School | Effect at Home | Source