When conducting user research/customer surveys, how do financial incentives affect quality and quantity of feedback?

As a customer, I get sent a decent amount of surveys, particularly from larger companies.

A lot of the time they ask for 5 or 10 minutes of my time to fill out feedback. Typically I ignore these as there is no direct benefit to me to fill it out.

Sometimes they offer an entry into a prize draw, or for more in-depth questions will pay a sum of money or gift card.

Is there any research (or anecdotal evidence) on how adding financial incentives affects the feedback from customers, in both number of responses, and (optionally) in the quality/level of detail?