Let $A=\bigoplus_{n \ge0} A_n$ be a Noetherian graded ring with $A_0$ Artinian. Suppose that $A=A_0[a_1,\dotsc,a_d]$ with $a_i$ having degree $1$. Let $M$ be a finitely-generated graded $A$-module. Then its Hilbert polynomial $\phi(n)_M$ is defined for $n\gg0$ and has degree $d-1$. Now let $N$ be a submodule of $M$.
My question is: how does the degree of $\phi_{M/N}$ behave as a function of $N$? What are the aspects of $N$ that affect this degree? In particular, if $N\neq 0$, can we show that $\operatorname{deg} \phi_M > \operatorname{deg} \phi_{M/N}$? Precise references in Matsumura or Eisenbud would be appreciated.
Remark: I can see that for $n\gg0$ we have $\phi_{M/N} = \phi_M - \phi_N$, however it seems to me that there is no reason in general that the leading coefficients would cancel.
Edit: Consider the special case where $A_0=k$, a field, $M=A=k[X_1,\cdots,X_n]$ and $N$ a non-zero homogeneous ideal. We have that $\operatorname{deg} \phi_M = n-1$. Question: will the degree of $\phi_{M/N}$ drop?