The objective of this article was to identify and evaluate the effectiveness of subsidies used by companies, as well as to develop an approach to assess the effectiveness of subsidies for the manufacturing sector of Polish economy. In order to organise the results obtained by researchers dealing with the efficacy of subsidies, a meta-analysis, i.e. a quantitative assessment of empirical literature, was carried out. Based on the data from the financial statements of medium-sized and large Polish companies, published in