It inserts the link according to file:/// syntax, but once I click on the link, I get this error:

link is formatted as: [Signature Memo for New Studies 2017](file:///\\fileshare\Departments\Medicine\...\Signature%20Memo%20for%20New%20Studies%202017.doc)
I truncated the path with … just for the sake of privacy.
It looks that once the link is sent to Windows, at least one \ is missing at the front of the path address.