Excel 2013 ignores fragment identifier in hyperlink to file

In Excel 2013, I have created a hyperlink to a file; the hyperlink includes a fragment identifier:  C:\temp\t.html#foo.

Opening the hyperlink does open the html page in a web browser, but the URL in the address bar does not include the fragment identifier:  #foo.  And the browser therefore does not scroll to the fragment.  I have tried this using different browsers:  Firefox, IE, Chrome;  all behave the same way.

I do not see this behavior when the html page in on the web.  In that case, the browser's address bar URL does include the fragment identifier, and the browser does scroll to the desired fragment

I have seen some advice about setting a registry value ForceShellExecute, but this has not worked for me.

Any advice about how to get the fragment identifier to work?

Thanks,
Burdette