I believe so, as whenever the data on the page changes, and whenever the search engine crawls your website, the changed data may indirectly affect your site's ranking - either in a good way or bad way. So if there were good positive, none-spammy update to the site, it should help with the site's ranking. Otherwise, if spammy duplicate content were added, it may devalue your SERP in the process, and that is why the big G emphasizes on moderating content on your site.