D&D image to word: how to link image instead of embedding it

[dpomt]

What I want to do is to change D&D behavior when D&D an image from explorer
to word. The behavior of Word is to embed the image - I want to insert only a
reference/link to the image. I did not find any possiblity to let Word link
the image. When doing a D&D with right mouse button, Word displays a context
menu with "link here", but it's grayed out.
If you have any suggestions how I could achive to get a linked image when
doing D&D from explorer to Word - either by cahnge some Word settings or by
implemting an add-in - this would be very helpful.

Any suggestions?
Dieter