If you click on a hyperlink in a web page and only a blank window appears,
Go to Start / Run
Then enter regsvr32 urlmon.dll
Click Ok when finished
If that single change does not resolve the problem, repeat the process by running the following additional entries:
regsvr32  Shdocvw.dll
regsvr32  Msjava.dll
regsvr32  Actxprxy.dll
regsvr32  Oleaut32.dll
regsvr32  Mshtml.dll
regsvr32  Browseui.dll
regsvr32  Shell32.dll (Windows XP and Windows 2000 only)

There have been several instances where the previous tip using regsrv32 does not solve the problem with hyperlinks not working.
In this case try:
Open Internet Explorer
Go to Tools / Internet Options
Click on the Programs tab
Click on the Reset Web Settings button