The more you compress air, the hotter it gets, as a child who has played with his finger on the end of a bicycle pump will know. If the fuel in an engine gets too hot, it can autoignite. So to prevent autoignition the intake valve should be closed later if the static compression ratio is higher, ensuring the air is compressed by a broadly similar amount and reaching a similar temperature.
Let's say one engine compresses 60 cc down to 6 cc with a 10/1 compression ratio. If you increase the compression ratio to 12/1 then you will be compressing into 5 cc space. To have that 5 cc at similar temperatures and pressure rather than autoigniting, you would have to ensure around 50 cc of air went in instead of 60 cc. The way to do that is normally to close the intake valve later.
With just 5/6 of the air going in, one would have lost some power, but possibly gained on other things, eg fuel efficiency, the power stroke being comparatively longer than the compression stoke, etc.
My figures are just meant to be illustrative, so you can see my point. I am not suggesting that a 10/1 compression ratio actually compresses by a factor of precisely 10 with cylinders being completely filled.