By default, unspecified paths to hyperlink destination files are relative to the location of the active workbook. Use this procedure when you want to set a different default path. Each time you create a hyperlink to a file in that location, you'll only have to specify the file name, not the path, in the Insert Hyperlink dialog box.
Note You can override the hyperlink base address by using the full, or absolute, address for the hyperlink in the Insert Hyperlink dialog box.